The cost of an asset is $ 1 070 000, and its residual value is...
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Accounting
The cost of an asset is $ 1 070 000, and its residual value is $ 300 000. Estimated useful life of the asset is eight years. Calculate depreciation for the second year using the doubleminusdecliningminusbalance method of depreciation. (Do not round any intermediate calculations, and round your final answer to the nearest dollar.)
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